2022-07-31-accounts

			Page
Governors, officers	and	organisation	1-2
Governors' report			9-7
Statement ofGovernors'		responsibilities
Independent auditors'	report		10-12
Statement offinancial	activities		13
Balance sheet			14
Cash flow statement			15-16
Notes to the accounts			17-$1

		Unrestricted	Restricted	Endowment		Total	Total
		Funds	Funds	Funds		2022	2021
	Notes	R'000	R'000	K'000		R'000	E'000
Income and endowments
from:
Donations and legacies		1,263	34			1,297	322
Investment income		16	26			42	25
Charitable activities:
School fees	3	15,010			15,010		14,232
Ancillary trading income	4	502				502	278
Other incoming resources	5	189	25			214	190
Total incoming resources		16980	85		17065		15047
Expenditure on:
Raising funds
Costs offundraising		4				4	4
Ancillary trading costs		7B3				783	502
Financing costs		600				601	790
		1,367				1,368	1,296
Charitable activities
Education and grant making		13884	73		13957		13,252
Total resources expended		15251	74		1	325	14548
Net incoming resources		1,729				1,740	499
from operations before
transfers and investment
gains
Gains/(Loss) on investment						(12)	116
assets
Gain on disposal ofland and							2,275
buildings
Transfer between funds
Net movement in funds		1,729		(6)		1,728	2,890
Fund balances at 1 August		45,172		519	46,235		43,345
2021
Fund balances at 31Suly		46,901		513	47,963		46,235
2022

					2022			2021
				Nates	R'000	R'000	6'000	E'000
Fixed assets
Tangible assets				9		62,108		63,517
Investments				10		746			758
						62,854		64,275
Current assets
Assets held for resale
Debtors					1,640		683
Cash at bank and	in hand				~7677		9354
					9,317		10,037
Creditors: amounts		falling	due within
one year:				12	7732		1078]
Net current (liabilities)/assets						~1585			744
Total assets less	current		liabilities			64,439		63,531
Creditors: amounts		falling	due after	13		16476		17	296
more than one year
Net assets
Endowment funds				17		513			519
Restricted funds				18
Unrestricted funds						~46901		45	172
								~5
The accounts were	approved		and authorised	for issue by the Board on		af„+4:tsrvhty		2QU,

						2022		2021
					Notes	f'000	f'000	f'000	f'000
Net cash (ouNow)/inflow				from			(70)		(1,031)
operating activities
Cash flows from investing				activities
Financing costs						(601)		(790)
Investment income						26		24
Interest received						16		1
Net proceeds from sale		offixed assets						5,328
Payments to acquire	tangible fixed					~248		~2481
assets
							(807)
Net cash from/(used)		in	investing						2,072
activities
Cash flows from financing				activities
AiB loan drawdown								6,000
Loan repayments						(800)		(6,352)
Net cash (used in)/from			financing				800		352
activities
Change in cash and	cash			equivalents			(1,677)		689
in the year
Cash and cash equivalents				at the			~9354		8665
beginning ofthe year
Cash and cash equivalents				at the end	(ii)
ofthe year
(i) Reconciliation	ofnet			income to cash flow from
operating activities							2022		2021
							f'000		F'000
Net incoming resources							1,740		499
investment income							(26)		(24)
Financing costs							601		790
Interest received							(16)		(~)
Depreciation oftangible		fixed assets					1,658		1,611
Decrease/(increase)	in	debtors					(957)		1,954
(Decrease)/increase	in	creditors					~3070		~5860
Net cash (oufflow)/inflow			from operations
(ii) Analysis ofcash		and		cash equivalents			2022		2021
							f'000		f.'000
Cash at bank

3.	Charitable activities —fees	Charitable activities —fees	Charitable activities —fees	receivable
						Total	Total
						2022	2021
						R'000	2'000
	School fees
	The school's fee income comprised:
	Gross fees					16,sra	15,833
	Less: Total	bursaries,	grants and allowances			1,609	1,642
						14,970	14,191
	Add:
	Bursaries and scholarships			paid for by Restricted	Funds	40	41
	School fees					15,010	14,232
	Bursaries and scholarships			paid for by Restricted
	Fund:
	Governors'	bursaries	and scholarships			40	41
						40	41

		2022	2021
		R'000	K'000
Dining	Hall	502	278
School	shop
		502	278

			Unrestl'lcted	Restricted	Total	Total
			funds	funds	2022	2021
			E'000	K'000	R'000	8'000
Fundraising		events		25	25	5
Furlough	grants					121
Lettings	income		189		1ea	64
			189	25	214	190

		Staff		Other	Grant	Total	Total
		costs f'000	Depreciation f'000	costs f'000	funding f'000	2022 f'000	2021 f'000
Costs ofgenerating	funds
Fundraising				4		4	4
Ancillary trading costs				763		763	502
Financing costs				600		601	790
Total cost ofgenerating				1,367	1	1,368	1,296
funds
Charitable expenditure
Education and grant
making
Teaching		7,825	1,636	1,134	40	10,635	9,694
Welfare		53		'l99		252	211
Premises		606		1,238		1,844	2,237
Support costs (note a)		770	22	434		1226	1 110
Total charitable		9,254	1,658	3,005	40	13,957	13,252
expenditure
Total expended		9254	1 658	4372	41	15325	14548

			2022	2021
			f'000	f'000
Accountancy	charges		22	25
Other governance		costs	40	35
			62	60

The average	number ofemployees	during the year	Number	Number
			2022	2021
Teaching			114	109
Welfare			2	2
Premises			32	39
Support			100	88
				238

The aggregate	payroll	costs for the year were as	follows:	2022 R'000	2021 f'000
Wages and salaries				7,265	6,660
Social security	costs			705	636
Other pension	costs			1,264	1,179
Apprenticeship	Levy			20	18
				9,254	8,493
				2022	2021
				E'000	F'000
Aggregate em	loyee	benefits ofkey management	personnel	965	870

Staffcosts (continued)
		2022	2021
Number of higher paid employees	in bands of:
860,001 to E70,000 f70,001 tof80,000
f100,001 tof110,000
f120,001 tof130,000
f160,001 tof170,000

Tangible Fixed Assets
			Fixtures,
			fittings,
	Land 8		plant 8		Motor
	Buildings		equipinent	Computers	vehicles	Total
	K'000		K'000	R'000	K'000	R'000
Cost (or deemed cost)
At 1 August 2021	64,096		1,167	691	407	66,361
Additions		(80)	162	158	8	248
Disposals			64	90	4	158
At 31 July 2022	64	016	1265	759	411	66 51
Depreciation
At 1 August 2021	1,467		637	401	338	2,843
On disposals			(64)	(90)	(4)	(158)
Charge for the year	1	283	162	191	22	1,658
At 31 July 2022	2	750	735	502	356	343
Net book value
At 31 July 2022	61	66	530	257	55	62 108
At 31 July 2021	62	628	530	290	69	63517

ixed asset inves	ixed asset inves	tment
Cost or valuation:			f'000
Market value at 1 August 2021 Disposals Change in value in the year			758 ~12
Market value at		31July 2022	746
The investment	assets held at the end ofthe year are:		f'000
Income shares	in	COIF	513
Charifund Units			216
Fixed Interest Bonds			16
Ground Rents			1
			746
			f'000
Historical cost:
At 31 July 2022			115
At 31 July 2021			115

			2022	2021
			f'000	f'000
	Fees		94	140
	Other debtors		1,264	180
	Prepayments	and accrued income	282	363
			1,640	683
All	debtors are due within one year.

Creditors: amounts	falling due within one year:
		2022	2021
		R'000	6'000
Bank loan		800	800
Trade creditors		528	272
Taxes and social security costs		179	170
Other creditors		754	3,584
Accruals		809	1,724
Deferred income		4662	4,231
		7,732	10,781
Creditors: amounts	falling due after more than one year
		2022	2021
		R'000	F'000
Bank loan		16,400	17,200
Other creditors
Deferred income		76	96
		16,476	17,296

	2022	2021
	R'000	6000
Loan maturity analysis
Debt due in one year or less	800	800
In more than one year but not more than two years	800	800
In more than two years but not more than five years	2,400	2,400
In more than five years	13,200	14,000
	17,200	18,000
included in liabilities falling due within one year	800	800
	16,400	17,200

Fees rece	ived	in advance
					2022	2021
					f'000	f'000
Deferred	income is included within:
Creditors	due	within one year			4,662	4,231
Creditors	due	after more than	one year		76	96
					4,738	4,327
Total deferred		lncorne at 1 August 2021			4,327	3,573
Amounts	received in year				4,738	4,327
Amounts	credited to statement		offinancial	activities	4,327	3,573
Total deferred		income at 31	July 2022		4,738	4,327

notice. A	ss	uming pupils wil	l	remain in t	he school, advance fees will b	e applied as follows;
						2022	2021
						f'000	f'000
Within one		year				4,662	4,231
Within one		to five years				76	96
						4,738	4,327
Financial	instruments
						2022	2021
						f'000	f'000
Financial	assets measured		at	amortised	cost (a)	9,034	9,673
Financial	assets measured		at	fair value	(b)	746	758
Financial	liabilities measured			at arnortised cost (c)		1,281	3,856
Net financial		(liabilities)/assets		measured	at amortised cost	7,753	5,817

					Move	ment in fund	s
				Balance
				at1				Balance
				August	Incoming	Resources	Investments	at 31 July
				2021 R'000	resources f'000	expended K'000	gains/losses R'000	2022 K'000
Permanent		endowments
Horsfield	Bursary Fund			405			(5)	400
Brocklehurst		Scholarship	Fund	114				113
				519				513

							Movement	in funds
					Balance
					at1					Balance
					August	Incoming	Resources	Investments		at 31
					2021	resources	expended	gains/losses	Transfers	July
										2022
					f'000	f'000	f'000	f'000	f'000	f,'000
Horsfield		Bursary Fund			1	12	(12)			1
Brocklehurst			Scholarship		51	3	(34)			20
&Other		Prize	Funds
Quincentenary			Bursary		281	61	(22)			326
Fund
Bursary		&Scholarship			205		(6)	(6)		202
Fund
						85
9.	Unrestricted			funds
					Balance
					at1			Gain on		Balance
					August	Incoming	Resources	sale of	Transfers	at 31
					2021	resources	expended	assets		July
										2022
					f'000	f'000	f'000	f'000	f'000	f'000
	Unrestricted				45,112	16,980	(15,251)			46,901
	general		funds
					45112	16980	15251			46901

20.	Analysis ofnet assets between	Analysis ofnet assets between	Analysis ofnet assets between	funds
				Unrestricted	Restricted	Endowment
				funds	funds	Funds	Total
							2022
				R'000	K'000	R'000	R'000
	Fund balances as at 31 July
	2022 are represented		by:
	Tangible fixed assets			62,108			62,108
	Investments			2	231	513	746
	Current assets			8,999	318		9,317
	Creditors: amounts	falling due		(7,732)			(7,732)
	within one year
	Creditors: amounts	falling due		(16,476)			(16,476)
	after one year
				46901	549	513	47963
				Unrestricted	Restricted	Endowment
				funds	funds	Funds	Total
							2021
				R'000	R'000	K'000	f'000
	Fund balances as at 31 July
	2021 are represented		by:
	Tangible fixed assets			63,517			63,517
	Investments				239	519	758
	Current assets			9,732	305		10,037
	Creditors; amounts	falling due		(10,781)			(10,781)
	within one year
	Creditors: amounts	falling due		(17,296)			(17,296)
	after more than one year
				45 172		519	46235

			Unrestricted	Restricted	Endowment	Total
			Funds	Funds	Funds	2021
		Notes	R'000	R'000	R'000	R'000
Income and endowments
from:
Donations and legacies			277	45		322
Investment income				24		25
Charitable activities:
School fees			14,232			14,232
Ancillary trading	income		278			278
Other incoming	resources		185			190
Total incoming	resources		14973	74		15047
Expenditure on:
Raising funds
Costs offundraising			4			4
Ancillary trading	costs		502			502
Financing costs			790			790
			1,296			1,296
Charitable activities
Education and grant making			12658	594		13252
Total resources	expended		13954	594		14548
Net incoming resources			1,019	(520)		499
from operations	before
transfers and investment
gains
Gains/(Losses)	on investment				74	116
assets
Gain on disposal	of land and		2,275			2,275
buildings
Transfer between funds
Net movement	in funds		3,294	(478)	74	2,890
Fund balances at 1 August			41,878	1,022	445	43,345
2020
Fund balances	at 31July		45,172		519	46,235
2021